Northern Territory Numbered Acts

STATUTE LAW AMENDMENT (TERRITORY ECONOMIC RECONSTRUCTION) ACT 2022 (NO 5 OF 2022) - SECT 48

(1)     Section 9(3)

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    (3)     The Director must not accredit, or renew the accreditation of, the following:

    (a)     a person who:

        (i)     is bankrupt; or

        (ii)     has applied to take the benefit of any law for the relief of bankrupt or insolvent debtors; or

        (iii)     has compounded with the person's creditors or made an assignment of the person's remuneration for the benefit of the person's creditors;

    (b)     a person who:

        (i)     has been convicted of a disqualifying offence; or

        (ii)     is otherwise considered by the Director not to be a fit and proper person to hold, or continue to hold, an accreditation;

    (c)     a body corporate if a responsible person for the body corporate:

        (i)     has been convicted of a disqualifying offence; or

        (ii)     subject to subsection (4), is otherwise considered by the Director not to be a fit and proper person for the purposes of the accreditation, or renewal of the accreditation, of the body corporate;

    (d)     a body corporate:

        (i)     unless the body corporate is authorised by its constitution, objects, purposes or rules to carry on the business associated with the accreditation; and

        (ii)     if a liquidator, receiver, receiver and manager or official manager has been appointed under the Corporations Act 2001 (Cth) – unless in the particular circumstances it would, in the opinion of the Director, be inequitable not to accredit or renew the accreditation.

(2)     Section 9(3A), after "(3)(b)"

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and (c)

(3)     Section 9(3A)(a)

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applies

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apply

(4)     Section 9(3A)(b)

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does

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do

(5)     Section 9(3A)(b)(i), after "person's"

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or the responsible person for the body corporate's

(6)     Section 9(3A)(b)(ii), after "person"

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or the responsible person for the body corporate

(7)     Section 9(3B)

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does not

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and (c) do not

(8)     Section 9(3B), after "conviction"

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(or, if the person is a body corporate, in relation to the conviction of a responsible person for the body corporate)

(9)     Section 9(3C)

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(3)(c)

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(3)(b)(ii) and (c)(ii)

(10)     Section 9(4)

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    (4)     The Director may exempt a responsible person for a body corporate from the requirement to be a fit and proper person for the purposes of accreditation, or renewal of accreditation, of the body corporate.

    (4A)     If the Director exempts a responsible person for a body corporate under subsection (4), the Director may place conditions on the exemption.

    (4B)     Despite subsection (4), the Director must not exempt a responsible person for a body corporate from the requirement to be a fit and proper person for the purposes of the accreditation, or renewal of the accreditation, of the body corporate, if the responsible person is the only responsible person for the body corporate.